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Unformatted text preview: $RU Teaching Case (INFS1000) by Dr. Kai Riemer Part 1: Introduction Murray Williams was sitting at his desk in his North Sydney office, overlooking beautiful Syd‐
ney harbour. He let his eyes wander over to the city, where the big banks had their head‐
quarters in shiny office towers. Murray was contemplating the massive changes the past year had brought to the financial industry: The collapse of the US property market, the shockwaves it sent to the global financial industry, the subsequent effect on the credit mar‐
ket and the stock market, and a range of investment scandals. All this had shaken the in‐
dustry. While other parts of the industry were much worse off, the financial planning sector also had its share of incidents to deal with. Murray felt that changes were imminent. Together with a partner, Murray had just founded $ R Us Financial Planning Pty Ltd (“$RU”) last year. In the decade preceding this step the partners had built a successful financial plan‐
ning office with a large bank in downtown Sydney and then bought the business off the bank. At the time, Murray and his partner had decided that they wanted to be more flexible in the ways in which they ran their business strategically, and not be restricted by the formal governance structures of a large bank. While this part of the plan was a definite success, the flipside of the medal was that they had to organise everything themselves, from running the office, keeping track of client data, dealing with suppliers, to compliance with government regulations. Luckily, Kerrie de Havilland, Murray’s office manager at the bank had agreed to make the big step with him, leaving the more stable and secure bank for working in a dy‐
namic small business. Today, $RU has two partners and three support staff, who are spread across two locations, one an office tower in North Sydney, the other on top of a large shopping centre in Parra‐
matta. The decision to split the operations between the two sites was motivated to a large extent by the partners’ life style choices. While Murray lives in the North part of the city, enjoying the northern beaches, the other partner loves the seclusion of the Blue Mountains. Two more par...
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This note was uploaded on 08/18/2011 for the course INFS 1000 taught by Professor Dr.kairiemer during the Three '10 term at University of Sydney.
- Three '10